TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Circulars
of of All Circulars
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Co-operative societies must deduct 2% tax on contractor payments under amended Section 194C, effective April 1, 1973.</h1> Co-operative societies are now required to deduct income tax at source from payments to contractors, effective April 1, 1973, as per the amended section 194C of the 1961 Act by the Finance Act, 1973. The tax deduction rate is 2% for payments made by co-operative societies to contractors for works and labor contracts. Contractors, except individuals and Hindu undivided families, must deduct 1% from payments to sub-contractors. These provisions exclude payments made before June 1, 1973. This change aligns co-operative societies with other entities like governments and corporations in tax deduction responsibilities.
TaxTMI 
TaxTMI 
